Compare Analysis of Kelly Community with 1.21% APY and Forbright Bank with 5.15% APY
This analysis is for demonstrative purposes only. Savings rates may go up or down, and CD rates may not be renewable for the length of the term of the analysis.
PRODUCT
BANK
AMOUNT
TERM
APY
VS.NATL'L AV.
MIN
BANK TYPE
STATE
All calculations are for demonstration purposes only.
- 1LOCAL CD$50,00024 Month1.21%1.28x (National Avg. - 0.95%)$10,000Credit Union-SCENARIO
Year Rate
1.21%Annual
InterestAnnual Interest
(After Tax)1 50,000 604 422 2 50,604 611 428 3 51,214 618 433 4 51,832 626 438 5 52,458 633 443 6 53,091 641 449 7 53,732 649 454 8 54,381 656 459 9 55,037 664 465 10 55,701 672 471 11 56,374 680 476 12 57,054 689 482 13 57,743 697 488 14 58,440 705 494 15 59,145 714 500 16 59,859 722 506 17 60,581 731 512 18 61,313 740 518 19 62,053 749 524 20 62,802 758 531 TOTAL $13,560 $9,492 - 2LOCAL SAVINGS$50,000N.A.5.15%23.95x (National Avg. - 0.22%)$0Bank-SCENARIO
Year Rate
5.15%Annual
InterestAnnual Interest
(After Tax)1 50,000 2,575 1,803 2 52,575 2,708 1,895 3 55,283 2,847 1,993 4 58,130 2,994 2,096 5 61,123 3,148 2,203 6 64,271 3,310 2,317 7 67,581 3,480 2,436 8 71,062 3,660 2,562 9 74,721 3,848 2,694 10 78,569 4,046 2,832 11 82,616 4,255 2,978 12 86,870 4,474 3,132 13 91,344 4,704 3,293 14 96,049 4,946 3,463 15 100,995 5,201 3,641 16 106,196 5,469 3,828 17 111,665 5,751 4,026 18 117,416 6,047 4,233 19 123,463 6,358 4,451 20 129,821 6,686 4,680 TOTAL $86,507 $60,555